Available For Sale - Multifamily

7,440 SF | Show Pricing $

AVAILABILITY DETAILS

Size
7,440 SF
Price/SF
Show Pricing $
Listing ID
SA459879
Notes
"PROPERTY OVERVIEW

The Wilshire Development is a 4 unit residential project. The development is fully entitled with Approved Building Permits. Each unit consists o our floors with garages and roof decks. The livable square footage o each is between 1,415s and 1,775s; including garage (two 2 car garages and one 3-car garage), balconies, and deck the square footage ranges rom 2,020s and 2,348s. Construction type is V-B (wood frame). There is an adjacent existing duplex at 3425 Wilshire Terrace that will be a part o the completed map (the individual units are not a part o this sale).

Located in North Park Community Plan, the site offers a tremendous opportunity to increase unit density. Current Land Use Map allows or Medium High density o 30-44 dwelling units per acre (Du/Ac). The property's RM-3-7 zoning (1du/1,000s) further allows or the current unit count to increase significantly. Modification o the current inal plan with studio or one bedroom units can potentially build up to 16 rental units. Lot loor area ratio is 1.8 (FAR) with a 40' height limit. Condo map currently submitted and in process with the City o San Diego (approval pending).

Current condo sales in the North Park community average approximately $545 per square oot on Sold units since October 2020 and continue to climb with For Sale units with a median asking price over $602 per square foot. Luxury units or sale in the 92104 zip code have sold or over $900,000 on newer projects
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Jorge Jimenez, SVN